Telephone and Data Systems calls all 6 5/8% senior notes due 2045

By Marisa Wong

Los Angeles, Aug. 2 – Telephone and Data Systems, Inc. said it will redeem all of its outstanding 6 5/8% senior notes due 2045.

The $116.25 million of outstanding notes will be redeemed on Sept. 1 at par of $25 plus accrued interest to the redemption date.

Bank of New York Mellon Trust Co., NA is the paying agent.

TDS’ 82% owned subsidiary United States Cellular Corp. also announced on Monday plans to redeem its 6.95% senior notes due 2060.

“Redemption of these notes builds on the progress we’ve already made towards lowering the average rate paid on our borrowings,” Peter L. Sereda, TDS executive vice president and chief financial officer, commented in a press release.

“The cost savings generated through these redemptions will enable additional opportunities for investments in 5G and fiber deployment,” Sereda added.

Based in Chicago, TDS provides wireless, cable and wireline broadband, video and voice services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.